Cushman & Wakefield has arranged the sale of a two-property senior housing portfolio totaling 130 assisted living and memory care units for $89 million. The disposition underscores continued investor interest in newer seniors housing communities with strong operating performance.
The portfolio comprises two institutional-quality communities: The Residence at Colvin Run in Great Falls, Virginia, and Queenstown Landing in Queenstown, Maryland. The properties were delivered in 2022 and 2021, respectively, providing modern building systems and contemporary layouts tailored to assisted living and memory care residents.
At the time of closing, the portfolio was reported to be 94% occupied, indicating strong demand and established resident bases at both communities despite their recent construction. The combination of high occupancy and new construction was positioned as a key component of the investment thesis for the buyer.
The seller consortium included Buvermo Investments, SHA Capital, Verity Commercial and INDIE. These groups elected to sell the fully built and stabilized portfolio in a single transaction rather than as individual assets, enabling a clean exit from the investment for the ownership partners.
LTC Properties, Inc. acquired the portfolio for $89 million. Following the closing, IntegraCare has been retained as the operator of the communities, maintaining operational continuity for residents and staff. The operating platform was not changed as part of the transaction, which can be an important factor for both resident care and transition risk.
Cushman & Wakefield’s Senior Housing Capital Markets group advised the sellers on the deal. The team was led by Vice Chair Joshua Jandris, Vice Chair Brett Gardner, Director Robert Bracci and Senior Financial Analyst Evan Jakobsze. Their role focused on marketing the institutional-quality portfolio and coordinating the sale process between the seller group and LTC Properties, Inc.
Commenting on the transaction, Jandris noted that the sale reflects ongoing demand for modern, high-quality seniors housing assets located in tight markets with favorable demographic fundamentals. He also emphasized that the portfolio’s high occupancy and recent construction contributed to its appeal as an investment and established LTC Properties, Inc.’s presence in what he described as two attractive submarkets.
The transaction provides a datapoint for pricing and investor appetite in the assisted living and memory care segment, particularly for recently built, well-leased communities. It also highlights the role of specialized senior housing capital markets teams in structuring and executing portfolio sales in this asset class.
